Backuestion 9not yetsweredMarked out ofTime left 0:45:08Given the profit function for firm 2; (32: M1)-(80-291-3y2)2-10y-v², firm's(y2;2's profit-maximizing output level solvesθαO a.=00Flag questionმყიO b. θαay 2-2y1-8y2 +70=-831-4y2 + 40Previous pageθα0 с.მყიმO d.მყ.-241-8y2 +40=-2y1-6y2 +70Next page?

To find the profit-maximizing output level for firm 2, we need to maximize its profit function by…

Answered: Back uestion 9 not yet swered Marked…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

A toy manufacturer makes miniature trucks. The pricep(in dollar) and the demandx(numberof miniature trucks) are related by the equation 6000−600p=x. The total cost for the sametoy manufacturer to producexminiature trucks can be modeled byC(x) = 8x+ 450.(a) (10 points) Express the pricepin terms of the demandx. Find the revenueR(x) if themanufacturer sellsxminiature trucks in a month and find the domain of this function.(b) (10 points) Graph the cost and revenue functions on the same coordinate system for 0≤x≤6000.(c) (10 points) What is the minimum number of trucks the toy manufacturer must sell tobreak even?(d) (10 points) FindP′(300) and interpret the result.(e) (10 points) What is the exact profit from the sale of the 301stminiature truck?
Break-Even The total revenue function for Frenchdoor refrigerators is given by R = 550x dollars, andthe total cost function for this same product is givenby C = 10,000 + 30x + x2, where C is measured indollars. For both functions, the input x is the numberof refrigerators produced and sold.a. Form the profit function for the refrigerators fromthe two given functions. b. What is the profit when 18 refrigerators areproduced and sold?c. What is the profit when 32 refrigerators areproduced and sold?d. How many refrigerators must be sold to breakeven on this product?
Refer to the figure below. Total profit is: 18 MC1 16 14 12 10 ATC1 8 6. AVC1 4 2 MR 10 20 30 40 50 60 70 80 90 $60 $240 $-120 O $80
function for the lightweight compasses is given by p = 40- 4q²where q is the number of lightweight compasses produced in millions. It costs the company $15 to make a lightweight compass. (i) Write an equation giving profit as a function of the number of lightweight compasses produced. (ii) At the moment the company produces 2 million lightweight compasses and makes a profit of $18,000,000, but you would like to reduce production. What smaller number of lightweight compasses could the company produce to yield the same profit? Type your answer here:
for a certain product, if the number of units that gives maximum revenue is 300 units, the number of units that gives maximum profit is 250 units and each 1000 units comsumes 5000 dollers of raw materials and a sunk cost of 2000 dollers for the whole number produced. then the selling price equation is O a. p=30 05D O b. p=30 06D Oc. p=50 05D O d. p-42 07D O e. p=30_03D
2AAWO AC I4 17.1 REVENUE, COST, AND PROFIT APPLICATIONSITSO RSYHAHD 797 20 A firm sells each unit of a product for $50. The total cost of producing x (thousand) units is described by the function C(x) = 10 – 2.5x² + x³ where C(x) is measured in thousands of dollars. (a) Use the marginal approach to determine the profit-maximizing level of output. (6) What is total revenue at this level of output? Total cost? Total profit? 1 The profit function for a firm is -000
Su Jappose that the profit function tor a com modity X)=-0.01x2+20x-1990 where 3. X13 the number of Acms sold, Find the marginal profit at x=50 and tell what ;it tems so predizds.
5- A manufacturer of doors, windows, and cabinets writes her yearly profit (in thousands of dollars) for each category in 248 a vector as: P= 319 632 40 30 Her fixed costs of production can be described by the vector:C- 60 What would her incomebif increasing it threefold would cause her profit to be fice times as arger 513,02 421; 623 427 72 907: 03 542 513,02 007;23 542 542: 3 007 421: 23 513
. A major cattle feeding operation has entered into a firm commitment to buy 100,000bushels of corn to be delivered to its feed lot in Kansas. The corn is expected to be delivered in90 days. The company is committed to pay $1.50 per bushel. If corn yields are greater thanexpected, the price of corn could decline and the company would experience higher operatingcosts than necessary as a result of the commitment.In order to protect itself against falling corn prices, the company purchased an option to sellcorn in 90 days at a strike price of $1.51 per bushel delivered to a facility in Nebraska.1. Assume that at the time of acquiring the put option, the price of corn was more than $1.51.Explain why the option had a value of more than zero at inception.2. Assume that one of your colleagues made the following comment: ‘‘An option can neverhave a negative value; therefore, you can never lose money on an option.’’ Discuss whetheror not you agree with your colleague.3. Assuming that only the…
(Intel) 300 $ 250 200 150 100 50- H 02. Average Variable Cost beyond Q=10 is O(a) positive and increasing O (b) negative and increasing O (c) positive and decreasing O (d) negative and decreasing TC 7 TVC Type here to search TFC 0 0 2 4 6 8 10 12 14 16 18 20 O 30 25 20 15 10 5 T S Click Save and Submit to save and submit. Click Save All Answers to save all answers. 0 0 2 4 6 8 10 12 14 16 18 20 5 points Save All Answers MC AC AVC H AFC Q Save Answer Save and Submit
The Calhoun Textile Mill is in the process of deciding on a production schedule. It wishesto know how to weave the various fabrics it will produce during the coming quarter. Thesales department has confirmed orders for each of the 15 fabrics produced by Calhoun.These demands are given in the following table. Also given in this table is the variablecost for each fabric. The mill operates continuously during the quarter: 13 weeks, 7 daysa week, and 24 hours a day.There are two types of looms: dobbie and regular. Dobbie looms can be used to makeall fabrics and are the only looms that can weave certain fabrics, such as plaids. The rateof production for each fabric on each type of loom is also given in the table. Note that ifthe production rate is zero, the fabric cannot be woven on that type of loom. Also, if afabric can be woven on each type of loom, then the production rates are equal. Calhounhas 90 regular looms and 15 dobbie looms. For this problem, assume the time requirementto change…
Complete the following table. Missing values are denoted by a number inside parentheses (X). Place your answers in the corresponding numbered fields below the table. Quantity FC VC TC AFC AVC ATC MC 0 144 0 (1) 1 2 3 4 --- --- (2) (3) 179 (4) (5) (6) (8) (9) (10) (11) 30 (14) (15) (16) (17) (18) (19) 15 (20) (21) (22) (23) (24) 60 (25) (7) m (12) (13)

SEE MORE QUESTIONS

Recommended textbooks for you

ENGR.ECONOMIC ANALYSIS

Economics

ISBN:

9780190931919

Author:

NEWNAN

Publisher:

Oxford University Press

Principles of Economics (12th Edition)

Economics

ISBN:

9780134078779

Author:

Karl E. Case, Ray C. Fair, Sharon E. Oster

Publisher:

PEARSON

Engineering Economy (17th Edition)

Economics

ISBN:

9780134870069

Author:

William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

Publisher:

PEARSON

ENGR.ECONOMIC ANALYSIS

Economics

ISBN:

9780190931919

Author:

NEWNAN

Publisher:

Oxford University Press

Principles of Economics (12th Edition)

Economics

ISBN:

9780134078779

Author:

Karl E. Case, Ray C. Fair, Sharon E. Oster

Publisher:

PEARSON

Engineering Economy (17th Edition)

Economics

ISBN:

9780134870069

Author:

William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

Publisher:

PEARSON

Principles of Economics (MindTap Course List)

Economics

ISBN:

9781305585126

Author:

N. Gregory Mankiw

Publisher:

Cengage Learning

Managerial Economics: A Problem Solving Approach

Economics

ISBN:

9781337106665

Author:

Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:

Cengage Learning

Managerial Economics & Business Strategy (Mcgraw-…

Economics

ISBN:

9781259290619

Author:

Michael Baye, Jeff Prince

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS